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$7,000 in cash feels like too much cash on the sideline, with such a beautiful rebound today, So I also took a new position.
Bought 4 APOL Jan. 70 calls at $3.60 for ($1,454.95).
That leaves me with $5,587.45 in cash reserves.
And money management probably won't do me no good if I'm trying to reach $75,000 by year's end. I'm aiming towards more of risk management through hedging strong stocks with weak ones, and strong sectors with weak sectors. Hopefully, I can keep most of the funds in play with that kind of goal. Don't get me wrong, that loss in LEAP puts definitely increased my blood pressure, but I was relieved to see SVU puts slowly increase from $2.50 at the open to $5.80. And as of current, SVU volume is nearly 500% above average with the shares down BIG at -14%. Good luck trading.
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